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Silver Lake and TPG in talks over potential Dell buyout

Dell has held talks recently with Silver Lake Partners and TPG about going private, as the US technology company struggles to find a new course for itself following the end of the personal computer boom.

The two buyout firms could possibly team on a bid, sources said, adding that others such as pension funds could likely invest alongside them. Talks between Dell and the private equity groups are understood to have been going on for the last two to three months. JP Morgan Chase is involved in the deal process, it has emerged, with several banks in discussions about providing financing.

Dell had a market capitalisation of about $19bn before its shares jumped 13% on Monday following news of the buyout talks. The company’s shares, which had dropped more than 30% over the past year, closed at $12.29 in 4 p.m. trading on the Nasdaq Stock Market. Dell founder Michael Dell, who returned to the chief executive job in 2007 after retiring in 2004, owned 15.7% of the company as of May.